Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

Indian share markets open firm
Mon, 21 Oct 09:30 am

Asian stock markets have opened the day on a mixed note with China (up 1.1%), Japan (up 0.8%) and Hong Kong (up 0.6%) leading the pack of gainers. However, markets in Taiwan (down 0.2%), South Korea (down 0.1%) and Malaysia (down 0.1%) are trading weak. The Indian share market indices have opened the day on a positive note. Stocks in the realty and capital goods space are leading the gains. However, information technology stocks are trading weak.

The Sensex today is up by around 39 points (0.2%), while the NSE-Nifty is up by around 10 points (0.2%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Mid Cap indices up by around 0.8% and 0.6% respectively. The rupee is currently trading at Rs 61.23 to the US dollar.

Cement stocks have opened the day on a weak note with JK Lakshmi Cement, UltraTech Cement and Ambuja Cements leading the losses. Leading cement player UltraTech Cement has announced its financial results for the second quarter of the financial year 2013-14 (2QFY14). During the quarter, net sales stood at Rs 45,021 m, lower by 4.2% on a year-on-year (YoY) basis. Operating profits stood at Rs 6,597 m, reporting a decline of 34.4% YoY. The drop in operating margins from 21.4% in 2QFY13 to 14.7% in 2QFY14 was mainly on account of higher raw materials and logistics expenses. While depreciation expenses increased by 10.7% YoY, interest expenses shot up by 47.9% YoY. At the bottomline level, net profits plunged by 52% YoY. Net profit margins declined from 11.7% in 2QFY13 to 5.9% in 2QFY14.

Engineering stocks have opened the day on a firm note with Everest Kanto Cylinder, Larsen & Toubro (L&T) and Punj Lloyd leading the gains. Engineering major L&T has announced its financial results for the second quarter of the financial year 2013-14 (2QFY14). During the quarter, net sales stood at Rs 145,095 m, higher by 10% on a year-on-year (YoY) basis. Operating profits stood at Rs 14,017 m, reporting a marginal decline of 0.1% YoY. Operating profit margins declined from 10.5% in 2QFY13 to 9.6% in 2QFy14. Other income increased by 35.7% YoY to Rs 4,494 m during the quarter. Depreciation and interest expenses increased by 6.1% YoY and 3.3% YoY, respectively. At the bottomline level, net profits declined by 14.1% YoY. However, it must be noted that the net profits of the two periods are not strictly comparable as there were certain exceptional and extraordinary gains during 2QFY13.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian share markets open firm". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.